This topic is probably new for many people. Nevertheless, it is a very old strategy utilized by many communities around the world. Money circle is a group of people that come together to pool resources and knowledge in other to help each other financially. Typically, the objective revolves around saving money, building wealth,access to interest free money or investing money.
Money circle comes in different ways and for different purposes. Nonetheless, the sense of community,loyalty, trust and honesty are at the heart of the concept. If you are by essence a very individualistic person then this might not be for you.
This is how it works:
The concept has been used for centuries around the world. It is a great way of achieving financial inclusion. Money circle also help people rebuild their credit, fund a major project, start a business or pay for colleges. Beyond money it is the assurance you will always be part of a community.
The implementation is not simple. It requires a lot of planning, due diligence, times and resources. It looks easy to do on paper but many things can actually go wrong.
But a successful money circle provides great rewards for its members and the community as whole.
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